Current Yield

Fallen and Can't Get Up

Even Greenspan can't hold off the bond bears

THE BULL MARKET IN BONDS is dead, and not even Federal Reserve Chairman Alan Greenspan can revive it.

After four weeks of rising yields, Greenspan last week failed to pacify bond investors despite telling Congress the central bank is "prepared to maintain a highly accommodative stance of policy for as long as needed to promote satisfactory economic performance."